Home Insurance in Spencer, Indiana
Homes in Spencer carry a median value of $162,900 - 6% lower than the Owen County median.
The typical home in Spencer was built around 1945. About 64% of homes were built before 1960, about 36 points above Owen County's 27%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
The housing stock in Spencer is 71% single-family homes, 11% apartments in buildings with 5+ units and 7% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
46% of owner-occupied homes in Spencer carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Spencer has an owner-occupancy rate of 67% and a vacancy rate of 10%; unoccupied homes typically need a different coverage form.
Most homes in Spencer - 52% - are primarily heated with natural gas.
Owen County had 50 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is strong wind (Relatively Moderate). See the full Owen County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Indiana, the statewide average premium for a standard HO-3 homeowners policy is $1,259 per year (NAIC, 2023 data).
Key figures
| Median home value | $162,900 |
|---|---|
| Median year built | 1945 |
| Owner-occupied share | 67% |
| Share of owner-occupied homes with a mortgage | 46% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in Owen County | 50 |
| Home insurance premium | $1,259 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)